Acer Completes Second Public Offering of 300 Million Common Shares; Raises NT$5.4 Billion (US$180 Million) in Funds
TAIPEI, TAIWAN (2015-02-10)
Acer Inc. (TWSE: 2353) announced the completion of its second public offering of 300 million common shares to raise a total of NT$5.4 billion (US$180 million) in funds. The new shares will be distributed to the shareholders on February 11.
This is the first equity raising plan by Acer Inc. since the company spun off its former manufacturing operations. In addition to reserving 30 million common shares each for public offering and for Acer employees, existing shareholders could purchase more for a ratio of 86 for every 1000 common shares owned, for a total issuance of 300 million common shares.
The usage of the fund is to pay down bank loans, to finance the Euro Convertible Bond and to bolster funds for new business investments for the company’s long-term sustainability.
As Acer transitions to become a hardware + software + services company, it will continue to solidify its existing core business while also stepping up the pace to invest and innovate in new businesses in the era of cloud computing and for the start of a new-new Acer.
Note: The exchange rate of US$1: NT$30 was used as reference.